Shuttle Tanker Newbuild Order in South Korea by TEN

AI generated image showing a tanker with TEN's name on it
Corporate News Shipping
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Tsakos Energy Navigation (TEN), a Greek shipping firm, has once again chosen Samsung Heavy Industries for the construction of additional shuttle tankers.

Industry insiders have pinpointed the New York-listed entity as the initiator of a 154,400 dwt tanker order, a detail disclosed in a recent regulatory announcement by the South Korean shipyard on Monday.

This transaction, valued at $149 million, includes an option for a second ship and features a long-term charter agreement with ExxonMobil.

Earlier in the year, this prominent American oil company had already secured up to four spots for shuttle tanker constructions at Samsung Heavy, with the initial duo, each having a deadweight of 150,000, expected to be completed in June and December of 2027.

With this recent procurement, TEN’s tally of newbuild projects has escalated to seven. The newly ordered vessel is scheduled for delivery by Samsung Heavy by the end of August 2026, which will follow two other shuttle tankers set for delivery in 2025.